Vedanta Aluminium Strengthens Biodiversity and Carbon Reduction Efforts in Odisha with PwC Partnership

27th November 2024

New initiatives build on ongoing programs to enhance ecological balance, restore habitats, and drive community-centric carbon reduction in Jharsuguda, Odisha

New Delhi, November 27, 2024: Vedanta Aluminium, India’s largest aluminium producer and a leader in sustainable development, has reinforced its position as an environmental leader by spearheading impactful biodiversity and carbon reduction initiatives in Odisha through a strategic partnership with PwC India. This collaboration builds on Vedanta Aluminium’s long-standing commitment to sustainable development by introducing innovative methods for ecological conservation and community engagement.

Vedanta has signed a memorandum of understanding (MoU) with PwC India, which encompasses a range of pioneering projects designed to restore ecological balance, mitigate climate impacts, and foster community well-being. With a focus on global best practices, innovative assessment tools, and local collaboration, these initiatives will create measurable outcomes for biodiversity conservation and carbon reduction.

Under this partnership, PwC India will design and help put into action the following initiatives:

Implementation of advanced carbon sequestration projects aimed at generating carbon credits for further offsetting emissions
Leveraging GIS-based mapping tools and seasonal plans, invasive species will be systematically removed and replaced with native flora to restore the natural ecosystem
Distribute energy-efficient cooking stoves in local communities to minimize biofuel usage and achieve avoided emissions, thereby reducing overall carbon footprint
Establish dense forests using the Miyawaki technique to boost local biodiversity and accelerate carbon sequestration

These efforts include the restoration of degraded lands to achieve No Net Loss of biodiversity, guided by detailed habitat development plans created in collaboration with local NGOs and Biodiversity Management Committees (BMCs). To combat carbon emissions, Vedanta Aluminium will distribute 2000 improved cookstoves to local communities, promoting cleaner cooking methods that improve air quality and reduce consumption of traditional biomass fuels.

The company will also address ecological imbalances by eradicating invasive species and reintroducing native flora using GIS-based mapping and seasonal restoration plans. Further, the company will employ the established methods to create dense, fast-growing forests, significantly boosting carbon sequestration efforts. These initiatives collectively underscore Vedanta Aluminium’s unwavering commitment to sustainable development and environmental stewardship.

Commenting on this partnership, Sunil Gupta, Chief Operating Officer (COO), Vedanta Aluminium, said, “This collaboration with PwC reinforces Vedanta Aluminium’s commitment to sustainable growth and environmental stewardship. By addressing critical ecological challenges and fostering community well-being, we aim to set new benchmarks for responsible business practices in the industrial sector. Together, we are taking decisive steps to ensure the conservation of our natural resources for future generations while fostering a healthier, greener planet.”

To ensure effective planning and execution, Vedanta Aluminium and PwC will utilise globally recognised biodiversity tools such as the BRICS (Biodiversity Risk and Impact Assessment Tool) and GIS platforms for spatial mapping and restoration planning. These initiatives align with the United Nations Sustainable Development Goals (SDGs), particularly Climate Action (SDG 13), Life on Land (SDG15) and Responsible Consumption and Production (SDG 12).

Further highlighting the importance of this collaboration, Mr. Sandeep Kumar Mohanty, Partner- ESG Strategy & Transformation/Leader- Sustainability and Climate Strategy, PwC India said, “We are engaged by Vedanta Limited to explore advanced strategies for preserving biodiversity and reducing carbon emissions. Our efforts aim to support a more sustainable future for local communities and the environment.”

As India’s largest aluminium producer, Vedanta Aluminium remains steadfast in its commitment to driving sustainable industrial practices. By aligning its operations with ecological and social imperatives, the company continues to deliver on its mission of fostering a greener, more sustainable future.

Vedanta Aluminium, a business of Vedanta Limited, is India’s largest producer of aluminium, manufacturing more than half of India’s aluminium i.e., 2.37 million tonnes in FY24. It is a leader in value-added aluminium products that find critical applications in core industries. Vedanta Aluminium ranks 1st in the S&P Global Corporate Sustainability Assessment 2023 world rankings for the aluminium industry, a reflection of its leading sustainable development practices. With its world-class aluminium smelters, alumina refinery and power plants in India, the company fulfils its mission of spurring emerging applications of aluminium as the ‘Metal of the Future’ for a greener tomorrow.

About Vedanta Limited:

Vedanta Limited, a subsidiary of Vedanta Resources Limited, is one of the world’s leading Oil & Gas and Metals company with significant operations in Oil & Gas, Zinc, Lead, Silver, Copper, Iron Ore, Steel, and Aluminium & Power across India, South Africa and Namibia. For two decades, Vedanta has been contributing significantly to nation building. Governance and sustainable development are at the core of Vedanta's strategy, with a strong focus on health, safety, and environment. Vedanta has put in place a comprehensive framework to be the ESG leader in the natural resources sector. Vedanta is committed to reducing carbon emissions to zero by 2050 or sooner and has pledged $5 billion over the next 10 years to accelerate the transition to net zero operations. Giving back is in the DNA of Vedanta, which is focused on enhancing the lives of local communities. The company’s flagship social impact program, Nand Ghars, have been set up as model anganwadis focused on eradicating child malnutrition, providing education, healthcare, and empowering women with skill development. Under the aegis of the Anil Agarwal Foundation, the umbrella entity for Vedanta’s social initiatives, the Vedanta group has pledged Rs 5000 crore over the next five years on social impact programmes with a thrust on nutrition, women & child development, healthcare, animal welfare, and grass-root level sports. Vedanta and the group companies have been featured in Dow Jones Sustainability Index, and was conferred Frost & Sullivan Sustainability Awards 2020, Golden Peacock Award for excellence in Corporate Governance 2022 and certified as a Great Place to Work 2022. Vedanta Limited is listed on the Bombay Stock Exchange and the National Stock Exchange.

For more information, please visit www.vedantalimited.com

About Vedanta Aluminium Business:

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Disclaimer:

This press release contains “forward-looking statements” – that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “should” or “will.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional, and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.

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